Northern Ireland Secretary Peter Hain today signed the order paving the way for a new era of powersharing in the North.
Mr Hain approved the restoration order, enabling the Assembly to meet tomorrow to appoint a new multi-party government of unionists and nationalists.
Democratic Unionist leader the Rev Ian Paisley and Sinn Fein's Martin McGuinness will be officially installed as the joint head of the new administration.
Taoiseach Bertie Ahern and Prime Minister Tony Blair will be among guests who will witness Mr Paisley and Mr McGuinness taking the oath to become First and Deputy First ministers.
The Assembly will also nominate 10 ministers to head Government departments and two junior ministers.
The Ministers will be drawn from the DUP, Sinn Fein, the Ulster Unionists and the SDLP. An Assembly Speaker and three Deputy speakers will also be elected.
Earlier Mr McGuinness said the new Northern Ireland power sharing government will need to take a tough stand against racism and sectarianism.
The Sinn Fein chief negotiator said: "I've always believed the way to dilute sectarianism is by a combination of approaches. "The real important one of all is for people of different political persuasions to work together in a positive and constructive fashion.
"I would hope that Ian Paisley and I have begun to show people that it is possible to do that. "I think all of that will have a very positive effect on people out there in our community who will see that it is possible for political leaders who want to totally and absolutely rid our society of sectarianism and racism.
"I also think that that must be coupled with ensuring that if people are behaving in a racist or sectarian fashion they are effectively brought before the courts.
However one of the first potential banana skins the new executive could face would be a tense marching season this summer in flashpoint areas like the Ardoyne in north Belfast, Whiterock in the west of the city and Portadown's Garvaghy Road.
Mr McGuinness said rival sides in marching disputes should draw inspiration from the way the Democratic Unionists and Sinn Fein struck their deal in March to revive power sharing.
"It shouldn't be beyond the collective wit of all of us - and what I mean by all of us is society in general - to try and resolve those matters," he argued.
Mr Paisley insisted today civil servants will no longer be able to dictate how Northern Ireland is run.
The Democratic Unionist leader warned devolved ministers would inherit a number of huge challenges from the Northern Ireland Office.
"Out there, there is great hype right now where everybody seems to think everything is wonderful," he said. "What I am trying to say as First Minister is this: Look, we're not in paradise. "We have all these problems to solve and we need every degree of courage and stickability we can get to face up to these challenges.
"Many of the problems are not of our making but are the making of squatters (Northern Ireland Office ministers), as I call them, from outside our country who flew in and flew out of here.
Mr Paisley said the Northern Ireland economy needed to be reshaped, moving away from its heavy reliance on the public sector.
However he warned that without a decent economic package and the right incentives to offer private sector sector, the new administration could struggle.
"We have to face up to challenges in the economy, the crisis over water, we have a crisis in education, in planning, in getting new industrialists to come and set up here and the issue of Corporation Tax to settle in terms of what we can offer and what the Dublin Government can offer.